Indonesia opens carbon credit market to foreign buyers to help finance climate action

A general view shows the launch of international carbon trading at the Indonesia Stock Exchange in Jakarta on Jan. 20, 2025. (AFP)
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Updated 20 January 2025
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Indonesia opens carbon credit market to foreign buyers to help finance climate action

  • Initial carbon credit certificates up for trade are worth 1.78 million metric tons of carbon dioxide equivalent
  • Jakarta has pledged to reach carbon neutrality by 2060, plans to build 75 gigawatts of renewable energy capacity

JAKARTA: Indonesia began offering carbon credit certificates for international buyers on Monday, as one of the world’s top greenhouse gas emitters seeks to raise funds to achieve its climate goals.

The move comes after countries agreed on the rules for a global market to buy and sell carbon credits at the COP29 climate conference last November, which its proponents say will mobilize billions of dollars into projects to help fight climate change.

Indonesia is ready to issue carbon credit certificates from emission reductions from a number of power projects on Java island worth about 1.78 million metric tons of carbon dioxide equivalent (CO2e), Environment Minister Hanif Faisol Nurofiq said.

“The implementation of international carbon trading is a reflection of Indonesia’s commitment following COP29,” he said at a launching ceremony in Jakarta.

“It can be ensured that the emission reduction certificates issued by Indonesia are of high integrity … It is hoped that this will serve as (a) foundation for global climate action that (turns) ambition into action, aligning economic growth with environmental responsibility.”

Carbon credits are generated by activities that avoid or reduce emissions of carbon dioxide, a potent greenhouse gas. They can be purchased by companies or countries seeking to “offset” or cancel out some of their own emissions to help reach their climate goals.

Indonesia, an archipelago with the world’s third-largest rainforest area, is one of the world’s biggest polluters. It has pledged to reach carbon neutrality by 2060, including by phasing out hundreds of coal-fired power plants and replacing them with renewables.

With goals to build around 75 gigawatts of renewable energy capacity by 2040, the government plans to raise some of the required funds through carbon offset projects.

Monday’s launch was an “important milestone in our collective journey towards a sustainable future,” Nurofiq said.

Indonesia’s carbon credit market has attracted little interest after it was first launched for domestic players in September 2023.

Trading value as of December 2024 was 50.64 billion rupiah ($3.10 million), while trading volume reached 908,018 tons of CO2e, according to Indonesia’s Financial Services Authority.


FBI foils Daesh-inspired New Year’s Eve attack plot

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FBI foils Daesh-inspired New Year’s Eve attack plot

  • Christian Sturdivant,18, charged with attempting to provide material support to foreign terrorist organization
  • Investigators say he shared plans for the attack with an undercover FBI employee
CHARLOTTE, United States: The FBI said Friday it disrupted a New Year’s Eve attack plot targeting a grocery store and fast-food restaurant in North Carolina, arresting an 18-year-old man who authorities say pledged loyalty to the Daesh group.
Christian Sturdivant was charged with attempting to provide material support to a foreign terrorist organization after investigators say he shared plans for the attack with an undercover FBI employee posing as a supportive confidant.
Sturdivant was arrested Wednesday and remained in custody after a federal court appearance Friday. An attorney representing him Friday did not immediately respond to an email seeking comment. Another hearing was scheduled for Jan. 7.
The alleged attack would have taken place one year after 14 people were killed in New Orleans by a US citizen and Army veteran who had proclaimed his support for Daesh on social media.
The FBI has foiled several alleged attacks through sting operations in which agents posed as terror supporters, supplying advice and equipment. Critics say the strategy can amount to entrapment of mentally vulnerable people who wouldn’t have the wherewithal to act alone.
Searches of Sturdivant’s home and phone uncovered what investigators described as a manifesto detailing plans for an attack with knives and a hammer, FBI Special Agent in Charge James Barnacle said at a news conference Friday.
“He was willing to sacrifice himself,” Barnacle said.
US Attorney for western North Carolina Russ Ferguson said the planned attack in Mint Hill, a bedroom community near Charlotte, targeted “places that we go every day and don’t think that we may be harmed.”
Worried he might attempt violence before New Year’s Eve, the FBI placed Sturdivant under constant surveillance for days, including on Christmas, Ferguson said. Agents were prepared to arrest him earlier if he left his home with weapons, he said. “At no point was the public in harm’s way.”
The fact that Sturdivant encountered two undercover officers while allegedly planning the attack should reassure the public, Ferguson said. He declined to identify the grocery store and restaurant cited in the complaint, citing the ongoing investigation.
If convicted, Sturdivant faces up to 20 years in prison, according to court documents.
An FBI affidavit says the investigation began last month after authorities linked Sturdivant to a social media account that posted content supportive of Daesh, including imagery that appeared to promote violence. The account’s display name referenced Abu Bakr Al-Baghdadi, the former leader of the extremist group.
Some experts argue that Daesh is powerful today partly as a brand, inspiring both militant groups and individuals in attacks that the group itself may have no real role in.
The affidavit says Sturdivant had been on the FBI’s radar in January 2022, when he was a minor, after officials learned that he had been in contact with a person in Europe the FBI says was an Daesh member, and had received instructions to dress in black, knock on people’s doors and commit attacks with a hammer.
At that time, Sturdivant did actually set out for a neighbor’s house armed with a hammer and a knife but was restrained by his grandfather, the affidavit says.
The FBI in Los Angeles last month announced the disruption of a separate New Year’s Eve plot, arresting members of an extremist anti-capitalist and anti-government group who federal officials said planned to bomb multiple sites in southern California.
Other Daesh-inspired attacks over the past decade include a 2015 shooting rampage by a husband-and-wife team who killed 14 people in San Bernardino, California, and a 2016 massacre at a gay nightclub in Orlando, Florida, by a gunman who fatally shot 49 people.